IEA sees slow growth in oil demand

LONDON: Global oil demand growth will slow to just under a million barrels per day (bpd) this year and next, the International...

World markets hit record ahead of US data

LONDON: World stocks hit new all-time highs on Thursday as traders counted down to US data that is expected to show inflation...

Most of wind, solar plants being built in China

BEIJING: Almost two-thirds of big wind and solar plants under construction globally are in China, where surging renewable capacity has squeezed coal’s...

Saudi Arabia raises $12.3b via Aramco share sale

Saudi Arabia raised a total of $12.35 billion from selling more shares in Aramco, after increasing the offering in the world’s most...

Saudis warned G-7 over Russia seizures with debt sale threat

WASHINGTON: Earlier this year, Saudi Arabia indicated it might sell off some of its European debt holdings if G7 countries proceeded with...
World economy-virus

Global economy expected to stabilise for the first time in three years in 2024: World Bank

One in four developing economies expected to remain poorer; income gap with advanced economies to widen: report

Asian markets rise on expectations of US rate cut

Asian stocks edged higher on Monday as investor optimism grew over a potential interest rate cut by the US Federal Reserve in...

China reports $3.22 trillion in foreign exchange reserves

China's foreign exchange reserves stood at 3.2224 trillion U.S. dollars at the end of June 2024, official data showed Sunday. The amount shrank...

India’s forex reserves fall to $652 billion as of June 28

MUMBAI: India’s foreign exchange reserves fell by $1.7 billion last week to stand at $652 billion as of June 28, when the...

Bitcoin falls below $59,000, loses 4% in value

The price of Bitcoin decreased below $59,000 by dropping around 4% in value within the last 24-hour period. The current price of Bitcoin...

Global oil prices edge lower, retreating from multi-month highs

Drop in prices is attributable to traders taking profits after recent gains and demand remains in focus 

Sri Lanka secures deal to restructure $12.5 billion of international bonds

Restructuring international bonds is one of the key conditions set by the IMF under $2.9 billion bailout programme 

Saudi Arabia’s sovereign wealth fund swings to $36.8 billion profit in 2023

Rise in revenues was driven by improved investment and non-investment activities in banking, telecom and gaming

China far ahead of other countries, including the US, in generative AI inventions, UN report says

China leads with over 38,000 of the 50,000 GenAI patents filed globally between 2014 and 2023; South Korea, Japan, and India follow, with India showing the fastest growth rate, data shows

Siemens Energy plans 10,000 hires for electricity grid unit, FT says

Siemens Energy plans to recruit more than 10,000 new employees for its electricity grid business, set to be the energy engineering group’s...